Teck Resources Target of Unusually Large Options Trading (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) saw unusually large options trading on Tuesday. Traders purchased 13,602 call options on the stock. This represents an increase of 118% compared to the typical volume of 6,250 call options.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TECK shares. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Performance

Teck Resources stock opened at $42.98 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources has a 1-year low of $36.50 and a 1-year high of $55.13. The firm has a market capitalization of $21.44 billion, a P/E ratio of 65.12 and a beta of 1.02. The company’s 50-day moving average is $42.30 and its 200 day moving average is $45.90.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.83%. Teck Resources’s dividend payout ratio (DPR) is 53.03%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $25,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources during the 4th quarter worth approximately $27,000. Global Trust Asset Management LLC purchased a new stake in Teck Resources during the 4th quarter worth approximately $27,000. Eastern Bank purchased a new stake in Teck Resources during the 3rd quarter worth approximately $39,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Teck Resources in the 3rd quarter valued at approximately $40,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.